According to IMARC Group’s latest report, titled “Healthcare IT Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global healthcare IT market reached a value of US$ 260.5 Billion in 2021. Healthcare involves the diagnosis, treatment, and prevention of diseases or other physical and mental ailments. The combination of the healthcare industry and information technology (IT) functions to regulate, manage, and mechanize operations across medical organizations. The utilization of advanced technological solutions in the health and wellness sector provides a practical patient-centric approach for treatments and ensures smooth communication between doctors and patients. Such healthcare IT infrastructures include computerized physician order entry systems, electronic health management, medical record-keeping, etc.
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The changing demographic trends across the globe, coupled with the expanding geriatric population and the widespread prevalence of lifestyle diseases, are straining healthcare resources. This, in turn, is driving the healthcare IT market, where IT solutions can be employed to enhance coordination in chronic disease management. Furthermore, the increasing upgradation of medical infrastructures, along with the growing need for the efficient management and easy access to medical data, are also propelling the market growth. Besides this, the escalating demand for safety and confidentiality of patient information is acting as another growth-inducing factor. Additionally, the rising adoption of digital solutions to automate the treatment process, including for the admission of patients, maintaining records of treatments, scheduling follow-ups, etc., is expected to fuel the healthcare IT market over the forecasted period. Looking forward, IMARC Group expects the healthcare IT market to reach US$ 552.8 Billion by 2027, exhibiting at a CAGR of 13.38% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- General Electric Company
- Koninklijke Philips N.V.
- Siemens Healthineers AG
- Cerner Corporation
- Allscripts Healthcare Solutions, Inc.
- Wipro Limited
- Oracle Corporation
- International Business Machines (IBM) Corporation
- SAS Institute Inc.
- Dell Technologies Inc.
- McKesson Corporation
- Epic Systems Corporation
- Athenahealth, Inc.
- abd Infor, Inc.
Market Segmentation:
Breakup by Product and Services:
- Healthcare Provider Solutions
- Clinical Solutions
- Nonclinical Healthcare IT Solutions
- Healthcare Payer Solutions
- Pharmacy Audit and Analysis Systems
- Claims Management Solutions
- Analytics and Fraud Management Solutions
- Member Eligibility Management Solutions
- Provider Network Management Solutions
- Billing and Accounts (Payment) Management Solutions
- Customer Relationship Management Solutions
- Population Health Management Solutions
- Other Payer Solutions
- Healthcare IT Outsourcing Services
- Provider HCIT Outsourcing Services Market
- Payer IT Outsourcing Services
- Operational IT Outsourcing Services
Breakup by Component:
- Software
- Hardware
- Services
Breakup by Delivery Mode:
- On-Premise
- Cloud-Based
Breakup by End-User:
- Healthcare Providers
- Hospitals
- Ambulatory Care Centers
- Home Healthcare Agencies, Nursing Homes, and Assisted Living Facilities
- Diagnostic and Imaging Centers
- Pharmacies
- Healthcare Payers
- Private Payers
- Public Payers
- Others
Breakup by Region:
- Europe
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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